Sealy & Company Broadens Footprint with Acquisition of Newly Constructed 221,128 SF Industrial Asset in Minneapolis

The closing marks Sealy & Company's third acquisition in the last three weeks.

DALLAS, March 14, 2023--(BUSINESS WIRE)--Sealy & Company, a fully-integrated commercial real estate investment and operating company and recognized leader in the industrial real estate market, announces the acquisition of 221,128 square feet of Class A Industrial property located in the Minneapolis market. The asset was acquired through an off-market transaction for an undisclosed amount.

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Sealy & Company announces the acquisition of 221,128 square feet of Class A Industrial property located in the Minneapolis market. The asset was acquired through an off-market transaction for an undisclosed amount. (Photo: Business Wire)

Located at 10600 Xylon N Avenue, the newly constructed tilt wall warehouse/distribution facility is 100% leased to nationally recognized tenants with excellent diversification. The rear load building offers best-in-class amenities, including 32’ clear height, 50 dock-high doors, two (2) drive-in doors, abundant auto and trailer parking, and ESFR sprinklers. The building offers optimal functionality through its multi-tenant design with multiple storefronts.

The building is in a premium location in the Northwest submarket, one of Minneapolis’ largest submarkets, and provides easy access to Highways 169, 610, and I-94. Sealy's newest asset was built in NorthPark, a 230-acre premier business park development planned with terrific access and visibility to highly traveled infrastructure. The park is also in close proximity to major retail amenities and the fastest-growing labor force in the Twin Cities. According to Cushman and Wakefield, the Northwest submarket is the Twin Cities' largest logistics and manufacturing submarket by SF and ranks second in the metro in terms of overall inventory base. Thanks largely to surging demand for e-commerce and expanding and transforming supply chains and distribution networks, annual net absorption through 2022 continued to outpace new deliveries, and leasing volumes remain robust.

"We are very proud of our investment services team for closing three off-market deals in the last three weeks. Sealy & Company remains a strong industrial real estate acquisition contender. We will continue to seek assets that match our proven investment strategy and live into our commitments," says Scott P. Sealy, Jr, Chief Investment Officer for Sealy & Company.

Jason Gandy, Managing Director – Investment Services, and Davis Gibbs, Director – Investment Services, led the transaction for Sealy & Company in a direct transaction with Scannell Properties.

For more news and information regarding Sealy & Company, please visit the Company's website at www.Sealynet.com.

Sealy & Company

Sealy & Company, a fully-integrated commercial real estate investment and operating firm, is a recognized leader in acquiring, developing, and redeveloping regional distribution warehouses, industrial/flex, and other commercial properties. Sealy provides a full-service platform for high-net-worth individuals and institutional investors through our development, management, and brokerage divisions. Sealy & Company has an exceptional team of over 100 employees, with corporate offices in Dallas, TX and Shreveport, LA.

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Contacts

Kayte H. HollowellVice President – Marketing & Communications | Sealy & Company318.222.8700 | [email protected]